Analyses of trends on the third party liability insurance market have indicated in the recent years that the quantity and value of claims have been growing on all markets . The examination of reasons therefor reveals multiple factors, including also a change of social attitudes - a greater...

The article constitutes an attempt at discussing the determinants of the development of third party liability insurance in historical perspective and on the basis of the observation of trends witnessed in this field nowadays. The identified factors are linked to the functioning of both the...

The article constitutes an attempt at discussing the determinants of the development of third party liability insurance in historical perspective and on the basis of the observation of trends witnessed in this field nowadays. The identified factors are linked to the functioning of both the...

Motor insurance constitutes the most popular type of insurance products purchased in Poland and consequently the largest part of non-life insurance sector. In this paper the selected results of the questionnaire survey concerning attitudes and choices of the motor insurance buyers on the Polish...

Increasing premiums, increasing claims and decreasing profits are three striking facts associated in some European countries to motor insurance liberalization of 1990's. In this paper, we argue that these phenomena may be considered not a consequence of collusion or other misapplications of...

In some European countries, the liberalization of the motor insurance market in the 1990s led to substantial increases in fares and claims throughout the whole decade. In this paper we argue that these phenomena are due to the impact of liberalization on companies' optimal incentives to fight...

It is widely recognized that "market failure" prevents efficient risksharing in natural disaster insurance. As a consequence, many countriesadopted institutional frameworks presenting public sector participation,often praised as public-private partnerships. We define risk selection asa situation...

Universal life policies are the most popular insurance contract design in theUnited States. They have either a level death benefit paying a fixed faceamount, or an increasing death benefit, which additionally pays the availablecash value, and both types include the option to switch from one to...

The financial services industry has undergone significant regulatory change in thepast two decades due to Basel II (banking) and Solvency II (insurance). Even though these promulgations are focused on European institutions, their influenceextends around the globe. An important dimension of this...

Cummins et al. (1994) provide a conceptual framework for policymakers to use in analyzing risk-based capital systems. Based on their framework, this article provides an overview and critical analysis of risk-based capital requirements, with a focus on property/casualty insurance, as implemented...